Flexible working

Tony Devenish: What research has the GLA undertaken into changing working patterns and to impacts on land values and transport usage, which in recent years have always increased? Do you agree that flexible working will mean many people will increasingly only come into London two or three days a week, both for lifestyle choices and due to prohibitive costs?

The Mayor: There are several variables that impact commuting patterns, including economic conditions, lifestyle and policy factors (including fares), but the available data doesn't allow us to draw unambiguous conclusions on how flexible and remote working may be affecting overall travel demand.
ONS data shows that one in six of all workers in London reports a flexible working arrangement (e.g. flexi-time, job sharing, 9-days fortnight) and that this figure that has varied little in recent years. TfL’s Travel in London Report 11 points to a decline in the proportion of Londoners who travel to the same workplace nearly every day (from 74 per cent in 2012/13 to 68 per cent in 2017/18), with a corresponding increase in the proportion of those who work at multiple locations (from 19 per cent to 26 per cent). The proportion of residents who work solely from home has also increased slightly (from 6 to 7 per cent).
The GLA has not undertaken specific research on the relationship between land values and working patterns. This is likely to be a two-way relationship as high land values provide an incentive to increase office space density.

Crossrail (2)

Florence Eshalomi: What is the interest rate on the loan facilities provided by DfT?

The Mayor: The loan from the Government to the GLA is being offered at a rate of the relevant Gilt plus 80 basis points. Discussions are still ongoing with the Government over the relevant Gilt(s) to be used.
The terms of any loan from the Government to the TfL are yet to be concluded.